2009 Iowa Code
Title 13 - Commerce
Subtitle 1 - Insurance and Related Regulation
CHAPTER 515G - MUTUAL INSURANCE COMPANY CONVERSIONS
515G.1 - DEFINITIONS.

        515G.1  DEFINITIONS.
         As used in this chapter, unless the context clearly requires
      otherwise:
         1.  "Affiliate" of a mutual insurer means a person who
      controls, is controlled by, or is under common control with, the
      mutual insurer being converted.
         2.  "Control" has the meaning assigned to it in section
      521A.1, subsection 3.
         3.  "Eligible policyholder" means a policyholder who had a
      policy in force with a mutual insurer at any time during the
      three-year period immediately preceding the date of the adoption of a
      plan of conversion by the mutual insurer's board of directors,
      including the date of adoption of the plan of conversion, and who,
      therefore, is eligible to receive an equitable share of the remaining
      statutory surplus of the mutual insurer, after provision for the base
      value for voting policyholders, as a result of the conversion.
         4.  "Holder of a surplus note agreement" means the holder of a
      guaranty fund or contribution certificate issued pursuant to section
      515.20 or its equivalent which has been approved by the commissioner
      of insurance.
         5.  "Mutual insurer" means a domestic mutual property and
      casualty insurance company organized and licensed under chapter 515.

         6.  "Voting policyholder" means a policyholder who had a
      policy in force as provided in section 515G.4.  

         90 Acts, ch 1083, §1; 2006 Acts, ch 1117, §74